Burford Capital Limited (NYSE:BUR – Get Rating)’s share price fell 5.3% during trading on Friday after Wedbush lowered their price target on the stock from $14.00 to $13.00. Wedbush currently has an outperform rating on the stock. Burford Capital traded as low as $6.66 and last traded at $6.66. 101,965 shares were traded during trading, a decline of 72% from the average session volume of 361,624 shares. The stock had previously closed at $7.03.
Hedge Funds Weigh In On Burford Capital
A number of hedge funds have recently made changes to their positions in BUR. JPMorgan Chase & Co. raised its holdings in shares of Burford Capital by 97.6% during the first quarter. JPMorgan Chase & Co. now owns 40,734 shares of the company’s stock valued at $374,000 after acquiring an additional 20,117 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Burford Capital by 273,700.0% in the first quarter. Citigroup Inc. now owns 2,738 shares of the company’s stock valued at $25,000 after purchasing an additional 2,737 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Burford Capital by 2.7% in the first quarter. Federated Hermes Inc. now owns 1,040,084 shares of the company’s stock valued at $9,558,000 after purchasing an additional 27,034 shares during the last quarter. Bandera Partners LLC increased its holdings in shares of Burford Capital by 2.4% in the first quarter. Bandera Partners LLC now owns 843,843 shares of the company’s stock valued at $7,755,000 after purchasing an additional 19,978 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Burford Capital by 162.7% in the first quarter. Renaissance Technologies LLC now owns 228,300 shares of the company’s stock valued at $2,098,000 after purchasing an additional 141,400 shares during the last quarter. Institutional investors and hedge funds own 2.04% of the company’s stock.
Burford Capital Price Performance
The stock has a market cap of $1.48 billion and a price-to-earnings ratio of -58.58. The firm has a fifty day moving average of $8.50 and a 200 day moving average of $8.28.
Burford Capital Announces Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a yield of 3.6%.
Burford Capital Company Profile
Burford Capital Ltd. engages in the provision of investment capital, asset management, financing, and risk solutions with a focus on the legal sector. It operates through following segments: Capital Provision, Asset Management, and Services and Other Corporate. The Capital Provision segment includes direct where the company provide capital directly to clients, and indirect where it offers capital by investing through funds that the company manage.